Harbour Capital Advisors LLC Increases Holdings in Serve Robotics Inc. (NASDAQ:SERV)

Harbour Capital Advisors LLC boosted its stake in shares of Serve Robotics Inc. (NASDAQ:SERV) by 102.4% in the 4th quarter, Holdings Channel reports. The fund owned 50,365 shares of the company’s stock after buying an additional 25,475 shares during the period. Harbour Capital Advisors LLC’s holdings in Serve Robotics were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Larson Financial Group LLC purchased a new position in Serve Robotics in the 3rd quarter worth approximately $26,000. Bfsg LLC acquired a new position in shares of Serve Robotics in the 3rd quarter worth approximately $38,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Serve Robotics during the third quarter worth $68,000. Quantum Private Wealth LLC acquired a new stake in shares of Serve Robotics during the third quarter worth about $80,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Serve Robotics in the third quarter valued at $148,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on SERV shares. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Northland Securities assumed coverage on Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target on the stock. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Finally, Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Stock Performance

SERV stock traded down $3.43 during trading on Monday, hitting $15.31. The company had a trading volume of 11,407,040 shares, compared to its average volume of 16,573,645. The firm has a 50-day moving average price of $12.16 and a 200-day moving average price of $9.88. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.35.

Insider Activity

In other Serve Robotics news, CEO Ali Kashani sold 37,500 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.16, for a total transaction of $793,500.00. Following the sale, the chief executive officer now directly owns 3,230,990 shares in the company, valued at approximately $68,367,748.40. The trade was a 1.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Touraj Parang sold 50,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the transaction, the chief operating officer now owns 1,163,439 shares of the company’s stock, valued at $15,113,072.61. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,027 shares of company stock valued at $3,309,166. Company insiders own 21.40% of the company’s stock.

About Serve Robotics

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.